Nagpur Best place for Real Estate Investment

One of the fastest growing Tier III cities in India -Future IT and Aviation city - Companies like Boeing, Satyam computers, HCL, Dell, Hexaware, DLF, Ascendas etc. has already finalized their projects. Adjacent to IT SEZ(Wardha Road – NH7) is Proposed International Cargo HUB(MIHAN – Multimodal International Hub Airport at Nagpur, (www.madcindia.org ), which is first and only such kind of project in the country being developed in Nagpur by a joint venture between Maharashtra Airport Development Corporation (MADC) and the Airport Authority of India (AAI). Second Capital and third big city in Maharashtra. Nearby is the new VCA cricket stadium.

How are real estate prices moving in Nagpur ?Any good projects in Mihan to live in near future. How is the offtake ?Not much information about nagpur is discussed on this portal. Is there some other good source of information for Nagpur around investment and end user perspective for housing ?

recently announced awards are mostly sponsored by rel-estate lobby.. Mihan failed, so they needed something new to sell nagpur..

mihan failed agreed 100% but the natural development / expansion is happening - look at the outskirts of nagpur people are living there - in last 5 years nagpur has expanded by atleast 5 km in all the ways

NMC staffers and BJP workers were creating awareness among citizens regarding rainwater harvesting. NMC staffers will do rainwater harvesting in the properties of people who agree for it, the drive will kick start on the birthday of Nitin Gadkari

NAGPUR: Sudhir Raut, standing committee chairman of Nagpur Municipal Corporation (NMC), has decided to launch rainwater harvesting drive in the city. It will start from May 27 on the occasion of birthday of union transport minister Nitin Gadkari in Ramna Maroti ward. Other localities in central Nagpur will be covered in the coming days. In the second phase, other parts of the city will be covered.

Raut told TOI that both NMC staffers and BJP workers were creating awareness among citizens regarding rainwater harvesting. "NMC staffers will do rainwater harvesting in the properties of people who agree for it," he added.

The chairman had told NMC officials to strictly enforce rainwater harvesting for new constructions. "I will put up a similar proposal in the next board meeting of Nagpur Improvement Trust (NIT). NIT takes money from property owners for rainwater harvesting while sanctioning building plans. However, this money is not used. If the property owner does not do rainwater harvesting within a few months of completing his construction, then NIT staffers would do it," Raut said.

Rainwater harvesting was made compulsory by state urban development ministry in 2009. It was compulsory for buildings having an area of 300 square metres or more. NMC reduced this to 150 square metres. After this initial zeal, NMC officials forgot all about it.

Raut is also reviewing the action taken by town planning officials on rainwater harvesting every eight days. "NMC officials go after any person who does extra construction. Why is the same zeal not shown for violators of rainwater harvesting rule? It does not take much money to do it. The expenditure on an average is just Rs 14,000. Moreover, Nagpur Municipal Corporation (NMC) bears half this cost," he said.

Experts have stressed on rainwater harvesting as a necessary measure for avoiding water crisis in coming years. This technology recharges ground water table and increases the water level in wells and borewells.

The ground rent demand note was issued in the name of original owner and all the flat owners had to pay it collectively and now NIT is asking flat owners to bring the DoD so that we know the share of land they own

NAGPUR : Sachin Kurve, chairman of Nagpur Improvement Trust, has taken a welcome decision of making deed of declaration (DoD) compulsory for new flat owners to pay ground rent. This move will allow individual flat owners pay ground rent without bothering whether other owners in the same apartment pay it or not.Explaining the move, an NIT official said, "Suppose ten flats having equal area have been constructed on a 10,000 square foot plot. Till now, the ground rent demand note was issued in the name of original owner and all the 10 flat owners had to pay it collectively. Now we are asking flat owners to bring the DoD so that we know the share of land they own. The ground rent demand note will be issued to individual owner. In this case, the flat owner will have to pay rent corresponding to one-tenth of the plot or 1,000 sq ft."

If a person does not submit DoD then the demand note will be issued in the name of the original land owner but the address will be that of the flat owner. "There are thousands of properties where flat owners have not paid the ground rent because of one or two errant owners. In many cases, a person desirous of selling his flat had to pay the entire ground rent including others' share. This will no longer happen," the official further said.

Meanwhile, the online ground rent payment facility of NIT is becoming popular with 684 persons using it in 5 weeks

The proposal to widen this road was first made in 1965. However, the work could not be initiated. The project also finds mention in the city’s development plan of 2000.Proshun Chakraborty | TNN | 14 June 2016, 3:30 PM IST

NAGPUR: Around 90% people residing along the 3.28km-stretch of Old Bhandara Road have violated the sanctioned building plan and have erected structures on the land that was to be kept vacant. This was revealed during a 'preliminary' survey carried out by the Nagpur Municipal Corporation as part of the road widening project.

The proposal to widen this road was first made in 1965. However, the work could not be initiated. The project also finds mention in the city's development plan of 2000. As per the plan, 45 roads were selected for widening. While widening of 44 roads has already been completed, only Old Bhandara Road work was stalled despite NMC completing preliminary survey of properties that need to be demolished.

An NMC officer said it was one of the first road widening proposals of the NMC. Sources pointed out that the road widening proposal was over 50 years old and while sanctioning the building plans, the NMC had asked all property owners to keep eight metres area free while constructing houses/ shops.

At some places, the road has been encroached so much that the width is only 4 metres. At other places, it is 14 to 15 metres.

In April end, the NMC had deployed 36 engineers from all 10 zones to measure all properties on that road stretch to be affected by the project. This survey included identification of road width, survey number and survey plot number of commercial and residential properties along the road. Compilation of the survey reports has been completed and NMC's executive engineer (DP roads) Dilip Jamgade will be convening a meeting on June 14 to review the reports, the officer said.

"Many residents have already availed TDR and also consumed the FSI offered to the affected families," the officer revealed quoting the survey findings. As the owners have violated the building plans, the civic body need not pay any compensation to the families to be affected by the project, the officer said.

The Gandhibagh zone office has identified 530 properties for demolition to widen the road to 60 feet.

In early 2000, the town planning department had carried out a survey and even marked central line and identified properties to be demolished for road widening work. "Now, we have approached the town planning department for a plan to start acquisition of land required for the road widening," the officer said.

"The entire road widening work, including construction and compensation for land acquisition, would cost around Rs 240 crore to the NMC," said consultant for this project.

IN A NUTSHELLThe proposal to widen 3.28km-stretch of Old Bhandara Road was first made in 1965

Project also finds mention in the city's development plan of 2000

Of 45 road widening projects, 44 have been completed barring Old Bhandara Road

In April, NMC conducted survey of all properties to be affected by the project

Compilation of the survey reports has been completed, decision likely today

Gandhibagh zone has identified 530 properties for demolition to widen the road to 60ft

Nagpur is sitting on the time bomb of dying property deals that are gradually taking dubious turn! Over half a dozen real estate players in Nagpur have been defaulting on their commitment of doling out possession of homes to the customers who have been frustratingly healing the dream of moving into their homes for years on end. Reliable sources informed that many of the builders and developers in Nagpur have defaulted on bank loans and are on the verge of bankruptcy. The situation has indicated towards an alarming trend putting the investors’ huge money at high risk.